November WPI inflation at 8-month high of 3.93%, as onion inflates 178%

Published On: 14, Dec 2017 | Source: Timesofindia

NEW DELHI: Inflation based on wholesale price index (WPI) accelerated further to 3.93 per cent in November due to a sharp rise in onion prices and costlier seasonal vegetables, government data showed on Thursday. The wholesale inflation now stands at a 8-month high, since the 5.99 per cent recorded in March this year.

It was 3.59 per cent in October this year, and 1.82 per cent in November last year.

The wholesale inflation overshot estimates as a Reuters poll of economists had predicted it at 3.70 per cent.

Onion, a kitchen staple, witnessed a whopping 178.19 per cent rise in inflation last month on annual basis. For seasonal vegetables too the rate of price rise accelerated to 59.80 per cent, as against 36.61 per cent in October.

Protein rich eggs, meat and fish as a category, however, grew at a slower pace of 4.73 per cent during the month, against 5.76 in preceding month. WPI inflation of food articles increased to 6.06 per cent last month, as against 4.30 per cent in October, as per the data released by the Commerce Ministry.

For manufactured goods, it was at 2.61 per cent during the month, almost static against 2.62 in preceding month.

Retail inflation, based on Consumer Price Index, hit a 15-month high of 4.88 per cent in November, as per the data released last week.